Stryker (NYSE:SYK) Given New $360.00 Price Target at BTIG Research

Stryker (NYSE:SYK) had its price objective reduced by BTIG Research from $372.00 to $360.00 in a research note published on Wednesday, Benzinga reports. They currently have a buy rating on the medical technology company’s stock.

A number of other research firms have also commented on SYK. Needham & Company LLC upgraded shares of Stryker from a hold rating to a buy rating and set a $392.00 price target for the company in a research report on Wednesday, May 22nd. Barclays boosted their price target on shares of Stryker from $372.00 to $376.00 and gave the company an overweight rating in a research report on Thursday, May 2nd. Robert W. Baird boosted their price target on shares of Stryker from $367.00 to $378.00 and gave the company an outperform rating in a research report on Wednesday, May 1st. Stifel Nicolaus reduced their price target on shares of Stryker from $375.00 to $365.00 and set a buy rating for the company in a research report on Wednesday. Finally, Evercore ISI reduced their price target on shares of Stryker from $370.00 to $365.00 and set an outperform rating for the company in a research report on Tuesday, July 2nd. Four analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, Stryker has an average rating of Moderate Buy and an average target price of $373.11.

Stryker Stock Down 0.5 %

Stryker stock opened at $331.56 on Wednesday. Stryker has a 1-year low of $249.98 and a 1-year high of $361.41. The firm has a market capitalization of $126.35 billion, a price-to-earnings ratio of 37.85, a P/E/G ratio of 2.57 and a beta of 0.89. The company has a current ratio of 1.68, a quick ratio of 0.99 and a debt-to-equity ratio of 0.51. The firm has a 50 day simple moving average of $338.87 and a 200 day simple moving average of $339.79.

Stryker (NYSE:SYK) last released its quarterly earnings data on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share for the quarter, beating analysts’ consensus estimates of $2.79 by $0.02. Stryker had a net margin of 16.12% and a return on equity of 22.89%. The business had revenue of $5.42 billion during the quarter, compared to analyst estimates of $5.40 billion. During the same period in the previous year, the business earned $2.54 EPS. Stryker’s revenue was up 8.5% compared to the same quarter last year. On average, analysts predict that Stryker will post 11.99 earnings per share for the current year.

Stryker Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th were paid a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 0.97%. The ex-dividend date of this dividend was Friday, June 28th. Stryker’s dividend payout ratio is presently 36.53%.

Insiders Place Their Bets

In other Stryker news, CFO Glenn S. Boehnlein sold 20,000 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $333.00, for a total value of $6,660,000.00. Following the transaction, the chief financial officer now owns 2,852 shares in the company, valued at $949,716. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.90% of the stock is currently owned by insiders.

Institutional Trading of Stryker

Several large investors have recently modified their holdings of SYK. Kornitzer Capital Management Inc. KS grew its position in shares of Stryker by 2.3% in the 2nd quarter. Kornitzer Capital Management Inc. KS now owns 7,932 shares of the medical technology company’s stock worth $2,699,000 after buying an additional 179 shares during the last quarter. First Business Financial Services Inc. grew its position in shares of Stryker by 17.5% in the 2nd quarter. First Business Financial Services Inc. now owns 7,703 shares of the medical technology company’s stock worth $2,621,000 after buying an additional 1,145 shares during the last quarter. SouthState Corp grew its position in shares of Stryker by 14.1% in the 2nd quarter. SouthState Corp now owns 15,017 shares of the medical technology company’s stock worth $5,110,000 after buying an additional 1,855 shares during the last quarter. Journey Advisory Group LLC grew its position in shares of Stryker by 3.9% in the 2nd quarter. Journey Advisory Group LLC now owns 3,235 shares of the medical technology company’s stock worth $1,101,000 after buying an additional 122 shares during the last quarter. Finally, Foster & Motley Inc. grew its position in shares of Stryker by 250.0% in the 2nd quarter. Foster & Motley Inc. now owns 2,254 shares of the medical technology company’s stock worth $767,000 after buying an additional 1,610 shares during the last quarter. 77.09% of the stock is owned by institutional investors.

About Stryker

Stryker Corporation operates as a medical technology company. The company operates through two segments, MedSurg and Neurotechnology, and Orthopaedics and Spine. The Orthopaedics and Spine segment provides implants for use in total joint replacements, such as hip, knee and shoulder, and trauma and extremities surgeries.